Georgia

Debt Relief Services & Options in Georgia

Georgia Debt Relief and Debt Settlement Laws

There may be help available for those Georgia residents struggling with unsecured debts if you qualify. A good option for debt relief is a credit counseling company. You can search for one here.

At the very least, allow us to provide you with the information that will help you learn about the best debt relief options in your state.

Credit card debt settlement is a way to reduce your debts with the creditor or collection agency to only pay back a fraction of the original amount owed. This method works because you pay less yet the creditor still recovers some of their loss.

However, you may not have to even apply for credit card debt settlement if the statute of limitations is up in your state and the debt no longer appears on your credit report. Legally, credit companies must recover the debt in a period of time specified by the state or the debt is no longer recoverable after this time period. Read on to find out if the statute of limitations is up for you.

Debt Collection

(This is intended to be a helpful and informational debt resource for Georgia consumers and does not constitute legal advice.)

Debt collector cannot send mail or telephone debtor at work unless a good-faith effort has been made to contact debtor at home and that effort has failed.

Maximum Interest Rate a Collection Agency Can Charge in Georgia: 6%

Georgia Wage Protection: 100% protection for 60 days

Statute of Limitations

A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in Texas but live in Georgia, the applicable statutes of limitations would be Texas’).

Oral Agreements: 6 years
Written Contracts: 6 years
Promissory Notes: 3 years
Open Accounts (credit cards): 3 years

Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes.*Clients who are able to stay with the program and get all their debt settled realize approximate savings of 50% before fees, or 30% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.

*This website and company services are not offered or directed to residents of Minnesota